{"id":1246449,"date":"2023-06-12T12:07:53","date_gmt":"2023-06-12T06:37:53","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1246449"},"modified":"2023-06-12T12:08:28","modified_gmt":"2023-06-12T06:38:28","slug":"with-8-9-crore-digital-transactions-india-conquers-45-market-share-beats-china-us-europe-in-digital-transactions","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/with-8-9-crore-digital-transactions-india-conquers-45-market-share-beats-china-us-europe-in-digital-transactions\/","title":{"rendered":"With 8.9 Crore Digital Transactions, India Conquers 45% Market Share: Beats China, US, Europe In Digital Transactions!"},"content":{"rendered":"\n<p>According to data sourced from MyGovIndia India is at the top with the most number of digital payments, surpassing four other countries, with a staggering 89.5 million digital transactions recorded in 2022.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/06\/NFC-Based-contactless-payments-001-1280x720-1-1024x576.jpeg\" alt=\"With 8.9 Crore Digital Transactions, India Conquers 45% Market Share: Beats China, US, Europe In Digital Transactions!\" class=\"wp-image-1246459\" srcset=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/06\/NFC-Based-contactless-payments-001-1280x720-1-1024x576.jpeg 1024w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/06\/NFC-Based-contactless-payments-001-1280x720-1-300x169.jpeg 300w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/06\/NFC-Based-contactless-payments-001-1280x720-1-768x432.jpeg 768w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/06\/NFC-Based-contactless-payments-001-1280x720-1.jpeg 1280w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>MyGovIndia is a platform by the Indian government that allows citizens to engage and contribute at the grassroots level.<\/p>\n\n\n\n<p><strong>Overtaking other nations<\/strong><\/p>\n\n\n\n<p>India contributed to a significant 46 percent of worldwide real-time payments making it predominant in the digital payment space.<\/p>\n\n\n\n<p>Its digital payment volume surpassed the combined transactions of the other leading countries in this domain.<\/p>\n\n\n\n<p><strong>The others trailing behind&nbsp;<\/strong><\/p>\n\n\n\n<p>Brazil ranked second with 29.2 million transactions, while China stood in third place with 17.6 million transactions.<\/p>\n\n\n\n<p>Thailand secured the fourth position with 16.5 million digital transactions, while South Korea recorded transactions worth 8 million<\/p>\n\n\n\n<p><strong>Transformative impact<\/strong><\/p>\n\n\n\n<p>Prime Minister Narendra Modi had highlighted India&#8217;s leadership in digital payments and its transformative impact on the country&#8217;s rural economy.<\/p>\n\n\n\n<p>He said, &#8220;India is number one in digital payments. India is one of the countries where mobile data is the cheapest. Today, the country&#8217;s rural economy is transforming.&#8221;<\/p>\n\n\n\n<p><strong>Growth<\/strong><\/p>\n\n\n\n<p>Experts from the RBI said India&#8217;s digital payments sector has been achieving significant milestones in terms of both value and volume.<\/p>\n\n\n\n<p>This is an encouraging sign of the strength and widespread <a href=\"https:\/\/www.moneycontrol.com\/news\/india\/india-leads-global-digital-payments-with-record-breaking-transactions-mygovindia-data-10775131.html\/amp?utm_campaign=fullarticle&amp;utm_medium=referral&amp;utm_source=inshorts\">acceptance <\/a>of the country&#8217;s payment ecosystem.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to data sourced from MyGovIndia India is at the top with the most number of digital payments, surpassing four other countries, with a staggering 89.5 million digital transactions recorded in 2022. MyGovIndia is a platform by the Indian government that allows citizens to engage and contribute at the grassroots level. Overtaking other nations India [&hellip;]<\/p>\n","protected":false},"author":24,"featured_media":1246459,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[752,1817,1818],"class_list":["post-1246449","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-digital-india","tag-digital-transactions","tag-global"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>With 8.9 Crore Digital Transactions, India Conquers 45% Market Share: Beats China, US, Europe In Digital Transactions! - Trak.in - Indian Business of Tech, Mobile &amp; Startups<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trak.in\/stories\/with-8-9-crore-digital-transactions-india-conquers-45-market-share-beats-china-us-europe-in-digital-transactions\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"With 8.9 Crore Digital Transactions, India Conquers 45% Market Share: Beats China, US, Europe In Digital Transactions! - Trak.in - Indian Business of Tech, Mobile &amp; Startups\" \/>\n<meta property=\"og:description\" content=\"According to data sourced from MyGovIndia India is at the top with the most number of digital payments, surpassing four other countries, with a staggering 89.5 million digital transactions recorded in 2022. MyGovIndia is a platform by the Indian government that allows citizens to engage and contribute at the grassroots level. 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